Category: Online Personal Installment Loans

22 Jan 2020

Money Converters to refund millions to pay for time loan clients

Money Converters to refund millions to pay for time loan clients

Money Converters has compensated an overall total of $1.35 million for 30 infringement notices.

ABC News: Giulio Saggin, file picture

Payday loan provider money Converters will refund customers huge amount of money and spend an infringement notice after a study because of the Securities that is australian and Commission (ASIC).

Key Points

  • Refunds on 118,000 credit that is small
  • Money Converters to refund $10.8 million in costs
  • ASIC claims money Converters violated accountable financing responsibilities

The refunds relate solely to 118,000 amount that is small agreements, or loans. (more…)